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Highlights of Da Nang's economy

Việt NamViệt Nam15/10/2024


Han River waterfront tourist area
The Han River waterfront tourism service area – a new symbol of Da Nang – is being built by Sun Group . Photo by Xuan Lan.

According to Ms. Nguyen Thi Hoai An, Deputy Director of the Da Nang City Department of Tourism , in the first nine months of this year, the city served 8.7 million overnight visitors, an increase of 33.3% compared to the same period in 2023, exceeding the target of welcoming 8.4 million tourists for the whole year of 2024. Of these, international visitors reached 3.2 million, an increase of 30.6%; and domestic visitors reached 5.5 million, an increase of nearly 35% compared to the same period in 2023.

“2019 was the peak year for Da Nang tourism, welcoming nearly 8.7 million visitors, including 3.5 million international tourists and 5.2 million domestic tourists, bringing in nearly 31 trillion VND in revenue. From now until the end of the year is the peak season for attracting tourists from Northeast Asia, India, Northern Europe, America, etc., so we expect Da Nang tourism to reach 10 million visitors in 2024,” Ms. Hoai An shared.

The continued strong growth of tourism is a bright spot in Da Nang's economy, increasing the proportion of the service sector from 70.02% in the first nine months of 2023 to 70.76% in the first nine months of 2024. A notable example is the Sun World Ba Na Hills tourist complex, which recently launched its third high-end roller coaster ride in the Fantasy indoor amusement park, costing 278 billion VND.

The construction and real estate sectors, after overcoming difficulties and obstacles related to capital markets and administrative procedures, also saw increased investment, with growth rates of 215.6% and 19.4% respectively.

A prime example is the Han River waterfront tourism service area, a new symbol of the city, with an investment of 3.265 billion VND, of which Sun Group has invested over 399 billion VND to date...

Currently, Da Nang is implementing many key projects such as the Lien Chieu port construction project; the renovation and upgrading of National Highway 14B section through Da Nang; the upgrading of Da Nang Obstetrics and Pediatrics Hospital with a total investment of 789 billion VND; and the social housing complex on Vu Mong Nguyen street with an investment of 224 billion VND, of which 119 billion VND has been implemented...

Amidst difficulties in attracting domestic investment and a 18% decrease in foreign direct investment (FDI) compared to the same period in 2023, these "pillars" helped Da Nang's GRDP in the third quarter of 2024 increase by 8.59% compared to the same period in 2023.

Overall, in the first nine months of the year, the city's GRDP increased by 6.47%, reaching an economic scale of VND 111,589 billion, an expansion of over VND 11,726 billion, maintaining its 17th position out of 63 provinces and cities and leading the South Central Coast region. This high economic growth contributed to Da Nang's budget revenue reaching VND 19,112 billion in the first nine months, an increase of nearly 31% compared to the same period last year, fulfilling the target for the whole year 2024.



Source: https://baoquangnam.vn/nhung-diem-sang-cua-kinh-te-da-nang-3142745.html

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